Neptune Software announces the signing of the First Investment Specialized Bank for their Rubikon banking platform.
First Investment Specialized Bank (FISB) is one of only six registered specialized banks in the Kingdom of Cambodia, fully authorized to issue loans to medium sized enterprises. Since beginning its operation in October 2005, FISB has grown exponentially in assets and clientèle, paving the way to continued growth and services for the future.
Rubikon will provide the complete banking platform at FISB with a rapid implementation expected thanks to Rubikon's modern web-based architecture, rules-based integrated business process management capabilities, model-based products and services factory, combined with continuous operations thanks to virtualisation of the end-of-day processes. Neptune will be collaborating with local partner Financial System Services Inc. (FSS), an already well established vendor and banking systems integrator in Cambodia, to deliver a high-quality solution for FISB.
Soreiyos Yip, General Manager at FISB, comments "We evaluated a number of supplier options, both the leading international vendors and local ones, but in the end it was the professionalism of the Neptune team, the flexibility and operational efficiency that Rubikon's unique architecture is capable of delivering, and the track record of rapid implementations that convinced us we were looking at the right system in Rubikon, and the right partners in Neptune and FSS, to take FISB forward."
Alan Goodrich, responsible for SE Asia, who led the sale for Neptune, concludes "we are excited and pleased to be working with FISB and delighted to have won our first SE Asia customer against such tough competition. Rubikon is fast becoming recognised internationally, not just for its innovation in enabling financial services organisations, but equally as having a low risk rapid implementation profile. Rubikon was recently implemented in a multi-branch national savings and credit bank in under six months, including data migration. This is possible thanks to Rubikon's clean modern architecture and highlights the quick win benefits compared to some of our big name competitors!"
Separately, Neptune is excited to announce that Malawi Savings Bank headquartered in Blantyre, Malawi and with 41 branches across the country has selected Rubikon Banking System to automate their banking business replacing Bankplus. In Blantyre on Tuesday 24 November, Neptune's team led by the Regional Managing Director executed the contract to license the use of Rubikon by the bank.
Having undergone through a very comprehensive selection process that lasted over 12 months culminating to this agreement, the Managing Director of the bank declared that they were convinced that Rubikon was the ideal solution for their business and Neptune was their right technology partner. "We focused very strongly on the ability to deliver and provision of post implementation support and Neptune which has a number of successful implementation in the neighboring countries emerged the winner" said Mr. Sam Phiri, the Head of Information
Technology at Malawi Savings Bank.
Speaking during the signing ceremony that took place in Blantyre, Malawi the bank's Managing Director Mr. Joseph Mwanamvekha explained that the business environment in which the bank was operating had changed over the years since they acquired the current system and now required a robust system that could deliver new functionality in the new areas of business including Internet Banking, Mobile Banking, Business Intelligence and Customer relationship/Case management. Rubikon stood out as the only system that would deliver these and more of the desired features on a plug and play basis. In addition Rubikon would enable the Bank to increase efficiency by utilising the workflow management facilities provided by the system.
"I thank the Bank for their confidence in us and we assure them our unreserved commitment to a successful implementation project and delivery of their business objectives." Quoted Chibuzo Ene, speaking on behalf of the management and staff of the Neptune Software Group.
The implementation will be starting within the next two weeks and the teams are already assembled and ready to go! It is expected that the bank will be live on the new system by mid 2010.